Bitcoin Is Crashing by @rjwile

Bitcoin prices on the Mt. Gox exchange have fallen 24% from Friday highs to below $900 after Baidu announced it would stop accepting Bitcoin for its music service users. According to multiple reports , the Chinese search giant issued a statement saying: Dear acceleration music users: Due to the recent fluctuations in the price of Bitcoin larger unable to protect the interests of users, in response to the risk of state-controlled bitcoin spirit Baidu music accelerate decision to suspend with immediate effect from accepting bitcoin buy accelerate music services. This follows the People's Bank of China's announcement that it would not allow banks to handle the virtual currency. There is also speculation China Telecom has stopped accepting Bitcoin, although we couldn't confirm this. China had been a huge driver of Bitcoin's growth last month, accounting for the majority of Bit...